Thursday, July 18, 2013

$35.3 million acquisition financing for single-tenant office building in Austin, TX secured by HFF

717 East Palmer Lane, Austin, TX

DALLAS, TX – HFF announced today that it has arranged $35.3 million in acquisition financing for a 320,000-square-foot, Class A single-tenant office building in Austin, Texas.

Mark West
                HFF worked exclusively on behalf of the borrower, Gladstone Commercial Corporation (NASDAQ: GOOD), to secure a non-recourse, fixed-rate securitized loan through Cantor Fitzgerald. 

Located at 717 East Parmer Lane at the intersection of Tech Ridge Boulevard in north Austin, the property is 100 percent leased to a wholly-owned subsidiary of a Fortune 500 company.  Situated on 23 acres, the property was completed in 2000 and is located within the Tech Ridge Business Park, a 1,000-acre multi-use business park development.             

                The HFF team representing Gladstone was led by director Brandon Chavoya and also included senior managing director Mark West, director Coler Yoakam and associate director Robert Wooten.

Robert Wooten
Gladstone Commercial Corporation (NASDAQ:GOOD) is a real estate investment trust (REIT) that invests in and owns net-leased industrial, commercial and retail property.

 The company currently owns a national portfolio consisting of approximately seven million square feet. 

  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

HFF arranges $100 million financing for high-rise residential property in Manhattan’s Murray Hill neighborhood

Murray Hill neighborhood apartments
39th Street, Midtown Manhattan, NY

Jennifer Keller
NEW YORK, NY – HFF announced today that it has arranged $100 million in long-term financing for a 510-unit, high-rise residential property in Manhattan’s Murray Hill neighborhood.

                HFF worked on behalf of the borrower to secure the 20-year, fixed-rate loan through Prudential Mortgage Capital Company, the commercial real estate finance business of Prudential Financial, Inc. (NYSE: PRU). 

The property is located on 39th Street between First and Second Avenues, in close proximity to several neighborhood amenities, public transportation, Grand Central Station and Midtown Manhattan. 

Michael Tepedino
The 39-story building consists of studio, one- and two- bedroom units.  Community amenities include a doorman, parking garage, laundry facilities and bicycle storage.   

                The HFF team representing the borrower included senior managing director Michael Tepedino, managing director Steven Klein and associate director Jennifer Keller.  Prudential was represented by director Sarah Teunis and senior analyst Kathryn Bradford.   

“The transaction provided the borrower an opportunity to take advantage of the low interest rate environment and provided lenders an opportunity to offer funding for a high quality residential asset in one of the top neighborhoods in the city with best in class sponsorship,” commented Klein.

  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Colliers Offers REO Jacksonville Riverwalk Hotel in Jacksonville, FL

Wyndham Jacksonville Riverwalk Hotel, Jacksonville, FL

MIAMI, FL, July 18, 2013 - Colliers International Hotels has been retained to solicit offers for the purchase of a 322-room full service hotel in Downtown Jacksonville's vibrant Riverwalk area.

Rich Lillis
 Rich Lillis and Kent Schwarz of Colliers International are lead brokers for the 5.81-acre property at 1515 Prudential Drive, Jacksonville, Florida, 32207.
Currently operating as the Wyndham Jacksonville Riverwalk Hotel, the lender-owned REO property is located on the Southbank of the St. Johns River. Built in 1980, it includes 35,000 square feet of banquet and meeting space. The hotel is convenient to I-95 and features easy access to Jacksonville's Downtown Skyway monorail and water taxi services.

Kent Schwarz
"Unencumbered by franchise license or management agreements, Riverwalk Hotel offers an exceptional opportunity for repositioning and rebranding with a major international hotel flag in a leading Southeast U.S. city," said Rich Lillis, Executive Vice President for Colliers International Hotels.

 "The cost basis per room is favorable, and adjacent riverfront parcels, available separately for acquisition through Colliers International, create the potential for a major redevelopment on this spectacular riverfront site."

For more information on the property, go to  and/or contact Rich Lillis, EVP for Colliers International Hotels at or Kent Schwarz, EVP for Colliers International Hotels at
 For a complete copy of the company’s news release, please contact:

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Berger Commercial Realty Oversees Construction of New Facility in Lauderdale Lakes for the Florida Department of Corrections


 FORT LAUDERDALE, FL (July 18, 2013) - Berger Commercial Realty, a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, recently managed construction of the Florida Department of Corrections' new 5,855-square-foot facility in Lauderdale Lakes.

 The firm's construction management team oversaw the build-out of the facility, located at 3714 W. Oakland Park Blvd., which will be used as offices for the department's probation and parole division.

 The firm also has managed construction projects for the Florida Department of Highway Safety and Motor Vehicles; the Records, Taxes and Treasury division of Broward County; and the U.S. Department of Defense.

 For a complete copy of the company’s news release, please contact:

Marielle Sologuren,
ext. 226
Jane Grant, ext. 224

Lincoln Property Company Southeast Reaches Atlanta Better Buildings Challenge Goal

55 Allen Plaza, Atlanta, GA

 ATLANTA (July 18, 2013) – The Atlanta Better Buildings Challenge (Atlanta BBC) has recognized Lincoln Property Company Southeast (Lincoln) for reaching a milestone achievement in sustainability. 55 Allen Plaza, a Class-A, 350,000-square-foot office tower in downtown Atlanta that is managed and leased by Lincoln, was one of just 20 Atlanta properties to complete its Atlanta BBC goal this year.

Denise Quarles
Atlanta BBC participants work to realize a 20 percent reduction in energy and water consumption in commercial properties by or before 2020. 55 Allen Plaza is among the first Atlanta BBC participants to achieve this goal, and the building did so within less than two years of the program’s launch. Lincoln was formally recognized in a ceremony held July 16 at Hudson Grille Midtown.

 Atlanta, along with Seattle and Los Angeles, were the first cities selected by President Obama in 2011 to participate in this U.S. Department of Energy-backed sustainability program that has since expanded throughout the country. 
Lauren Dufort
Originating in downtown, the Atlanta Better Buildings Challenge has grown to include participation throughout the city, including the Midtown and Buckhead communities. Central Atlanta Progress works in partnership with the City of Atlanta’s Mayor Office of Sustainability to manage the Atlanta BBC.

 To date, the Atlanta BBC boasts more than 80 participants, representing more than 65 million square feet of commercial space working to implement sustainability improvements.

 “Lincoln is deeply committed to the critical issue of sustainability and energy efficiency in all of the markets in which our properties are located,” said Tony Bartlett, senior vice president for Lincoln who oversees the Atlanta office. “We are thrilled at the chance to show real leadership in this area and are honored at this recognition from the Atlanta BBC.”

Tony Bartlett
“We commend and congratulate Lincoln Property Company for taking this important step to improve Atlanta’s energy and water efficiency,” said Lauren Dufort, director of sustainability at Central Atlanta Progress.

“The City of Atlanta applauds Lincoln Property Company in its efforts to make our city a more sustainable place to live and conduct business,” said Denise Quarles, director of the City of Atlanta Mayor’s Office of Sustainability. “Their hard work is just the beginning, and we are glad that they paved the way for other Atlanta BBC participants.”

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group

Greg Fox Joins Cortland Partners as CFO

R. Gregory Fox
 ATLANTA, GA (July 18, 2013) — R. Gregory Fox, who has nearly three decades of financial leadership experience in the commercial real estate industry, has joined Cortland Partners as the firm’s chief financial officer (CFO).

Most recently, Fox was CFO of BSR Trust LLC (formerly Summit Housing Partners LLC), which owns and operates 112 apartment communities totaling more than 18,600 units in the Southeast, Oklahoma and Texas.

Fox also has served in CFO roles at Morgan Stanley and at Post Properties. At Morgan Stanley, he was CFO of the accounting and treasury segment of the company’s real estate fund business. As CFO of Post Properties, Fox oversaw all facets of the publicly traded REIT’s finance, investor relations, accounting and IT functions. He also has worked for PricewaterhouseCoopers LLP, serving as a consultant to the firm’s real estate clients.

Steven DeFrancis
“We are thrilled that Greg is joining our management team at Cortland,” said Steven DeFrancis, CEO of Cortland Partners. “As we continue to expand our presence throughout the Southeast and Texas and diversify our portfolio, Greg’s expertise and extensive experience will prove to be an ideal fit for our firm.”

For a complete copy of the company’s news release, please contact:

Tony Wilbert
The Wilbert Group
404-965-5022 (O) 404-405-3656 (C)